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Neopost Investor Day extract SME

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Frédéric Gounet
Frédéric Gounet

This document summarizes Neopost's investor day presentation on their strategy to expand into digital communication and shipping solutions for small and medium enterprises (SMEs). Key points include: - Transactional mail volume is declining while new digital communication channels are growing, requiring companies to communicate with customers across multiple channels. - Neopost aims to leverage its existing customer base and expertise in mail and shipping solutions to develop a complementary portfolio of digital communication and shipping applications delivered through a scalable SaaS platform. - The SME market for digital solutions is largely untapped despite over 5 million SMEs in Neopost's top countries, representing a market opportunity of €3-5 billion. Neop

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Neopost Investor Day SME Digital Solutions Extract January 16, 2015
Overall Vision Denis THIERY Chairman and Chief Executive Officer Neopost Investor Day
Communication is becoming more complex Transactional mail continues to decline… … while new forms of digital communication are growing Our customers have to incorporate technology trends… … in order to effectively communicate to their customers across multiple channels 3
Multiple Source, New Channels and Data Richness Multiple sources of customer data and multiplication of media communication channels and delivery points Increased interactivity between companies and customers Richness of Data: Profile, Customer Type, Location Neopost can help with this complexity 4
The Shipping Market is changing too The parcel market is growing fast driven by the growth in e-commerce Carriers are expanding their focus from B2B to B2C The market is shifting its focus from the carrier to the Shipper and Consumer Postal Organizations are investing for their networks to leverage the growth in consumer parcels 5
Neopost Ambition MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs) Build a Complementary Offer for Current Customer Base Invest & Speed up Development in Non- Mail Related Business Continue Developing Mail Related Business • VAR • OEM Software services • SME oriented web / cloud based SaaS services 6
Neopost Ambition MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs) Build a Complementary Offer for Current Customer Base Invest & Speed up Development in Non- Mail Related Business Continue Developing Mail Related Business Marketed to enterprise accounts Developed for NIOsSME oriented web / cloud based SaaS services OEM Software services VAR 7
Synergies, Synergies, Synergies! Neopost Growth Areas: What they have in common Complementary to Neopost’s current business: synergies Fast growing markets of good size (min $1Bn) Neopost has the ability to take a leadership position There is an opportunity for 15% ROCE 8
SME Opportunity >5m SMEs across Neopost’s top 4 countries The SME market for Digital Solutions today is largely untapped Much of Neopost’s customer base is companies < 100 employees SaaS & Cloud are making digital solutions affordable for smaller companies 9
Neopost Opportunity A p p s / S a a S / C l o u d CSS DUs CSS DUs CSS DUs VAR OEM NIO NIO Large Enterprises Medium Size SME/VSE Shipping Enterprise Digital Shipping Enterprise Digital Partners S M E Digital Partners 10
Positioning Neopost for the Future MS/CSS Enterprise Digital Solutions Shipping Clem Garvey Europe, APAC, Export Alain Férard Shipping Solutions Henri Dura Enterprise Digital Solutions Dennis LeStrange USA, Canada Nikolaus Scholz New Projects Integrated Operations CSS Dedicated Units New Projects 11
Neopost Executive Committee CFO R&D & Supply Chain CMSO CTO CHRO CSS DUs New ProjectsEnterprise Digital Solutions Neopost Shipping Solutions NIOs USA, CanadaEurope, APAC, Export Chairman & CEO 12
Sales evolution Mail Solutions €922m €1.0 billion 8% €1.1 billion 17% €909m €186m €1.1 billion 20% › CSS sales increased by more than 40% per year since 2011 › EBIT margin around 22% in 2014 despite a high level of investment 2014 (e)20132011 Communication & Shipping Solutions €81m 13
Mid Term Ambition 2017 – 20192014 (e) €1.4–1.5 billion* >35% Mail Solutions €1.1 billion 20% CSS: › Ability to grow organically 2% to 4% from 2017-2019 *Exchange rate: €/USD 1.25 and €/GBP 0.78 Communication & Shipping Solutions 14
Market Trends Nikolaus SCHOLZ Chief Marketing & Strategy Officer
Mail volumes are declining Mail* volume in Main 4 (US, UK, France, Germany) 100 150 200 250 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 ? Historical Trend Projections Sources: Historical: US (USPS Quaterly Reports), Germany (Deusche Post Annual Reports), France (ARCEP Observatoire Postal), UK (Ofcom Reports) * only addressed mail -0.4% -5.3% -6.6% -3.5% 16
Two Expansion Directions from our Core Physical Communication Digital CommunicationShipping 17
Electronic Invoices Market Expects strong growth over the next 3 years Electronic Invoices – Overall Market Revenue (in $B) (Estimates in %) Focus on Europe penetration rate in Europe Global E-invoicing Market by Geographical Segmentation 2012 European market The regulation is a key pillar to adopting a full digital invoicing solutions The governments are switching quickly to the Electronic invoicing , pushing SMBs to adopt this process as well Ex: Denmark is the most advanced in Europe, due to government who established E-invoices as mandatory Other markets USA: Need to Enhance Invoicing Process Brazil: E-invoice adoption is pushing by regulation, however the complexity involved, remains an hurdle 3.4 4.1 5.1 6.3 8.1 Source: Technavio market survey 2013 2016E2015E2014E20132012 CAGR +24% Source: Billentis 2014 Source: Technavio market survey 2013 APAC 9% EMEA 55% Americas 36% 201420132012201120102009 B2B/B2G/G2B B2C 24% 14% 20% 13% 15% 11% 13% 9% 10% 7%8% 5% 18
SMEs are digitising rapidly › Neopost is legitimate to accompany its customers in their transformation from a communication 100% physical to a mix of digital and physical communication Increasing Level of digitization Physical Only 13% Held Back 13% Digitising External Pull 26% Digitising Internal Push 9% Steady State reached (for now) 25% Fully Digital 16% Immediate opportunity for Neopost Mid-term opportunity 19
Conclusion on market trends Physical Communication Digital CommunicationShipping $2-3bn* $3-4bn* $2-3bn* Market addressed by Neopost 10-12% -3% 10-12%Growth rates 20 * Source: Neopost and Gartner estimates
SME Digital Solutions Nikolaus SCHOLZ Chief Marketing and Strategy Officer
Positioning Neopost for the Future Enterprise Digital Solutions Shipping Alain Férard Shipping Solutions Henri Dura Enterprise Digital Solutions CSS Dedicated Units MS/CSS Clem Garvey Europe, APAC, Export Dennis LeStrange USA, Canada Integrated Operations New Projects Nikolaus Scholz New Projects 22
Neopost Opportunity 23 A p p s / S a a S / C l o u d CSS DUs CSS DUs CSS DUs VAR OEM NIO NIO Large Enterprises Medium Size SME/VSE Shipping Enterprise Digital Shipping Enterprise Digital Partners PartnersS M E Digital 23
Investing to claim a relevant share in fast growing market 5m SMEs >50% of SMEs not digitized Transactions Document/SME Adoption rate for value added services Market Opportunity 3-5bn € 24
3 key pillars of our SME SaaS solutions Portal & Platform Applications Go-To-Market 25
Saas Platform – complex, powerful and highly scalable – released H1 2014 26
Saas Platform It is the common platform for • delivering all Nepost branded SaaS offerings • targeting SME with respective products & services (Apps) Portal & Platform The foundation for our future business is ready in 2014 2014 • launched in H1 in the UK • ongoing evolution (v1.2) • Software Development Kit (SDK) for App integration successfully validated Status powerful and scalable platform ready to be leveraged for business and ready for app integration 27
3 key pillars of our SME SaaS solutions: Focus 2015 Portal & Platform Applications Go-To-Market 2014 • launched in H1 in the UK • ongoing evolution (v1.2) • Software Development Kit (SDK) for App integration successfully validated Status powerful and scalable platform ready to be leveraged for business and ready for app integration 2015 • Increase number of Apps • Test & iterate fast 2015 • Establish the right go to market • Test & Iterate Fast 28
A variety of APPS & the right go to market 29
Mid Term Revenue Ambition 18 months 36 months 70k Users 300k Users Paying Customers 15% 15% Short Term Mid Term Vision Ambition • 50k customer • 10-15m€ 30
Investing to claim a relevant share in fast growing market mid 2016 t Growth / H2 Innovation / H3 Mature / H1 Market Stage end 2017 2020-2025 Relevant Market Volume Market Opportunity 3-5bn € * Market share similar to GMCs positioning in the Enterprise market 31
Neopost Investor Day extract SME

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Neopost Investor Day extract SME

  • 1. Neopost Investor Day SME Digital Solutions Extract January 16, 2015
  • 2. Overall Vision Denis THIERY Chairman and Chief Executive Officer Neopost Investor Day
  • 3. Communication is becoming more complex Transactional mail continues to decline… … while new forms of digital communication are growing Our customers have to incorporate technology trends… … in order to effectively communicate to their customers across multiple channels 3
  • 4. Multiple Source, New Channels and Data Richness Multiple sources of customer data and multiplication of media communication channels and delivery points Increased interactivity between companies and customers Richness of Data: Profile, Customer Type, Location Neopost can help with this complexity 4
  • 5. The Shipping Market is changing too The parcel market is growing fast driven by the growth in e-commerce Carriers are expanding their focus from B2B to B2C The market is shifting its focus from the carrier to the Shipper and Consumer Postal Organizations are investing for their networks to leverage the growth in consumer parcels 5
  • 6. Neopost Ambition MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs) Build a Complementary Offer for Current Customer Base Invest & Speed up Development in Non- Mail Related Business Continue Developing Mail Related Business • VAR • OEM Software services • SME oriented web / cloud based SaaS services 6
  • 7. Neopost Ambition MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs) Build a Complementary Offer for Current Customer Base Invest & Speed up Development in Non- Mail Related Business Continue Developing Mail Related Business Marketed to enterprise accounts Developed for NIOsSME oriented web / cloud based SaaS services OEM Software services VAR 7
  • 8. Synergies, Synergies, Synergies! Neopost Growth Areas: What they have in common Complementary to Neopost’s current business: synergies Fast growing markets of good size (min $1Bn) Neopost has the ability to take a leadership position There is an opportunity for 15% ROCE 8
  • 9. SME Opportunity >5m SMEs across Neopost’s top 4 countries The SME market for Digital Solutions today is largely untapped Much of Neopost’s customer base is companies < 100 employees SaaS & Cloud are making digital solutions affordable for smaller companies 9
  • 10. Neopost Opportunity A p p s / S a a S / C l o u d CSS DUs CSS DUs CSS DUs VAR OEM NIO NIO Large Enterprises Medium Size SME/VSE Shipping Enterprise Digital Shipping Enterprise Digital Partners S M E Digital Partners 10
  • 11. Positioning Neopost for the Future MS/CSS Enterprise Digital Solutions Shipping Clem Garvey Europe, APAC, Export Alain Férard Shipping Solutions Henri Dura Enterprise Digital Solutions Dennis LeStrange USA, Canada Nikolaus Scholz New Projects Integrated Operations CSS Dedicated Units New Projects 11
  • 12. Neopost Executive Committee CFO R&D & Supply Chain CMSO CTO CHRO CSS DUs New ProjectsEnterprise Digital Solutions Neopost Shipping Solutions NIOs USA, CanadaEurope, APAC, Export Chairman & CEO 12
  • 13. Sales evolution Mail Solutions €922m €1.0 billion 8% €1.1 billion 17% €909m €186m €1.1 billion 20% › CSS sales increased by more than 40% per year since 2011 › EBIT margin around 22% in 2014 despite a high level of investment 2014 (e)20132011 Communication & Shipping Solutions €81m 13
  • 14. Mid Term Ambition 2017 – 20192014 (e) €1.4–1.5 billion* >35% Mail Solutions €1.1 billion 20% CSS: › Ability to grow organically 2% to 4% from 2017-2019 *Exchange rate: €/USD 1.25 and €/GBP 0.78 Communication & Shipping Solutions 14
  • 15. Market Trends Nikolaus SCHOLZ Chief Marketing & Strategy Officer
  • 16. Mail volumes are declining Mail* volume in Main 4 (US, UK, France, Germany) 100 150 200 250 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 ? Historical Trend Projections Sources: Historical: US (USPS Quaterly Reports), Germany (Deusche Post Annual Reports), France (ARCEP Observatoire Postal), UK (Ofcom Reports) * only addressed mail -0.4% -5.3% -6.6% -3.5% 16
  • 17. Two Expansion Directions from our Core Physical Communication Digital CommunicationShipping 17
  • 18. Electronic Invoices Market Expects strong growth over the next 3 years Electronic Invoices – Overall Market Revenue (in $B) (Estimates in %) Focus on Europe penetration rate in Europe Global E-invoicing Market by Geographical Segmentation 2012 European market The regulation is a key pillar to adopting a full digital invoicing solutions The governments are switching quickly to the Electronic invoicing , pushing SMBs to adopt this process as well Ex: Denmark is the most advanced in Europe, due to government who established E-invoices as mandatory Other markets USA: Need to Enhance Invoicing Process Brazil: E-invoice adoption is pushing by regulation, however the complexity involved, remains an hurdle 3.4 4.1 5.1 6.3 8.1 Source: Technavio market survey 2013 2016E2015E2014E20132012 CAGR +24% Source: Billentis 2014 Source: Technavio market survey 2013 APAC 9% EMEA 55% Americas 36% 201420132012201120102009 B2B/B2G/G2B B2C 24% 14% 20% 13% 15% 11% 13% 9% 10% 7%8% 5% 18
  • 19. SMEs are digitising rapidly › Neopost is legitimate to accompany its customers in their transformation from a communication 100% physical to a mix of digital and physical communication Increasing Level of digitization Physical Only 13% Held Back 13% Digitising External Pull 26% Digitising Internal Push 9% Steady State reached (for now) 25% Fully Digital 16% Immediate opportunity for Neopost Mid-term opportunity 19
  • 20. Conclusion on market trends Physical Communication Digital CommunicationShipping $2-3bn* $3-4bn* $2-3bn* Market addressed by Neopost 10-12% -3% 10-12%Growth rates 20 * Source: Neopost and Gartner estimates
  • 21. SME Digital Solutions Nikolaus SCHOLZ Chief Marketing and Strategy Officer
  • 22. Positioning Neopost for the Future Enterprise Digital Solutions Shipping Alain Férard Shipping Solutions Henri Dura Enterprise Digital Solutions CSS Dedicated Units MS/CSS Clem Garvey Europe, APAC, Export Dennis LeStrange USA, Canada Integrated Operations New Projects Nikolaus Scholz New Projects 22
  • 23. Neopost Opportunity 23 A p p s / S a a S / C l o u d CSS DUs CSS DUs CSS DUs VAR OEM NIO NIO Large Enterprises Medium Size SME/VSE Shipping Enterprise Digital Shipping Enterprise Digital Partners PartnersS M E Digital 23
  • 24. Investing to claim a relevant share in fast growing market 5m SMEs >50% of SMEs not digitized Transactions Document/SME Adoption rate for value added services Market Opportunity 3-5bn € 24
  • 25. 3 key pillars of our SME SaaS solutions Portal & Platform Applications Go-To-Market 25
  • 26. Saas Platform – complex, powerful and highly scalable – released H1 2014 26
  • 27. Saas Platform It is the common platform for • delivering all Nepost branded SaaS offerings • targeting SME with respective products & services (Apps) Portal & Platform The foundation for our future business is ready in 2014 2014 • launched in H1 in the UK • ongoing evolution (v1.2) • Software Development Kit (SDK) for App integration successfully validated Status powerful and scalable platform ready to be leveraged for business and ready for app integration 27
  • 28. 3 key pillars of our SME SaaS solutions: Focus 2015 Portal & Platform Applications Go-To-Market 2014 • launched in H1 in the UK • ongoing evolution (v1.2) • Software Development Kit (SDK) for App integration successfully validated Status powerful and scalable platform ready to be leveraged for business and ready for app integration 2015 • Increase number of Apps • Test & iterate fast 2015 • Establish the right go to market • Test & Iterate Fast 28
  • 29. A variety of APPS & the right go to market 29
  • 30. Mid Term Revenue Ambition 18 months 36 months 70k Users 300k Users Paying Customers 15% 15% Short Term Mid Term Vision Ambition • 50k customer • 10-15m€ 30
  • 31. Investing to claim a relevant share in fast growing market mid 2016 t Growth / H2 Innovation / H3 Mature / H1 Market Stage end 2017 2020-2025 Relevant Market Volume Market Opportunity 3-5bn € * Market share similar to GMCs positioning in the Enterprise market 31

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